Ensign Peak Advisors Inc Decreases Stock Holdings in Sysco Co. (NYSE:SYY)

Ensign Peak Advisors Inc trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 27.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 836,476 shares of the company’s stock after selling 309,609 shares during the period. Ensign Peak Advisors Inc owned approximately 0.17% of Sysco worth $59,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of Sysco during the second quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new stake in Sysco during the first quarter valued at approximately $31,000. Burkett Financial Services LLC purchased a new stake in Sysco during the fourth quarter valued at approximately $30,000. Fairman Group LLC purchased a new stake in Sysco during the fourth quarter valued at approximately $39,000. Finally, LRI Investments LLC purchased a new stake in Sysco during the first quarter valued at approximately $45,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Truist Financial reduced their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.19 on Friday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm has a fifty day moving average price of $75.87 and a 200 day moving average price of $75.55. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s dividend payout ratio is 49.76%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.